Power Grid Q2 Results: Profit Up 23% On Other Income Amid Project Delays
The cooling tower of a power plant stands behind an electrical grid in Patna, Bihar, India (Photographer: Prashanth Vishwanathan/Bloomberg)  

Power Grid Q2 Results: Profit Up 23% On Other Income Amid Project Delays

Power Grid Corp.’s profit rose in the quarter ended September despite project delays as its other income rose.

Net profit rose 23.4% year-on-year to Rs 3,117.4 crore in the July-September period, according to an exchange filing. That compares with the Rs 2,853-crore consensus estimate of analysts tracked by Bloomberg.

The company saw its revenue increase 4.29% over the previous year to Rs 9,058 crore, against Rs 9,445-crore forecast.

Power Grid Q2 Results 2020-21: Other highlights (year-on-year)

  • Operating profit rose 5.48% to Rs 7,971 crore, against the estimated Rs 8,235 crore.
  • Margin expanded to 88% from 87% earlier.
  • Other income rose 67% to Rs 832 crore.
  • Revenue from the transmission segment rose 6% to Rs 9,034.4 crore
  • Consultancy segment revenue fell 38% to Rs 108.4 crore.
  • Telecom revenue fell 4% to Rs 190.2 crore.

Shares of Power Grid closed 1.9% higher ahead of the results compared with a 0.73% gain in the benchmark BSE Sensex.

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